International regulation and financial inclusion: Between Dead-End and Renouncement

On the one hand, the worrying attrition in the number of correspondent banks, characteristic of "de-risking" or institutional drift in applying AML/CFT rules, contributes to weakening the most vulnerable countries. On the other hand, the difficulty and high cost of collecting financial data condemn local banks to use the "standard" risk analysis model of prudential standards (Bale 3), which relies on the existence of rating agencies, still too few to rate African companies. 

The international community is finally faced with the need to change these rules, at the risk of seeing them openly circumvented, thus permanently thwarting job creation prospects in countries where SME development is the main driving force. This article explores the options available to players in the system and, more broadly, to the international development community, for whom the development of financial inclusion on the African continent is a vital issue.